Uber drops uberX fares in L.A., San Diego to match Lyft, Sidecar

Uber announced it will cut its price in Los Angeles and San Diego for the next… (Uber )

Uber is lowering fares for its uberX service in Los Angeles and San Diego for the next two weeks to be more competitive with rivals Lyft and Sidecar.

The announcement comes just weeks after the state's Public Utilities Commission announced new regulations that legalize online ride-sharing services, which are on-demand-ride services that users book and pay for through their smartphones. Uber said the price cut will make uberX fares "substantially less than a taxi."

Uber said rides from Santa Monica to Venice will now cost $8 (previously $10), rides from LAX to Manhattan Beach will cost $16 (previously $20), and rides from West Hollywood to Santa Monica will cost $22 (previously $26).

Uber said a taxicab ride from Santa Monica to Venice typically costs $13, including tip.

Rival ride-sharing firm Lyft charges $8 to $9 for rides from Santa Monica to Venice, $14 to $15 for rides from LAX to Manhattan Beach and $28 to $30 for rides from West Hollywood to Santa Monica.

The app for Sidecar, another rival, currently says it charges $9, $13 and $31 for those routes, respectively, though prices vary depending on the time of day and traffic conditions.

Though the fare cuts are set to last just two weeks, Uber said it might decide to keep them permanently if there is enough demand.

"If after two weeks, demand remains very high, the price cut will be extended permanently," the company said in a statement. "Everybody wins."

This isn't the first time that Uber has gone head to head with Lyft. Last month, Uber announced it would give users free rides through uberX in Indianapolis and St. Paul, Minn., for one month. That announcement came shortly after Lyft entered the two markets.